3 More FTSE 100 Shares for the Week Ahead
Mar 22nd 2013 9:33AM
Updated Mar 22nd 2013 9:36AM
LONDON -- We have already had a quick look at three FTSE 100 companies that will be in the news next week. But there are more as we approach the end of the March quarter and companies start to bring us first-quarter updates.
Here are three more FTSE 100 companies we'll be hearing from next week.
Plumbing and heating products supplier Wolseley is scheduled to deliver half-year results on Tuesday, and forecasts are looking good. For the year ending July 2013, the analysts' consensus suggests a rise in earnings per share of 9%, but that does put the shares on a forward price-to-earnings ratio of 18 based on the latest price of 3,250 pence -- falling to 15 if the predicted 19% EPS rise for 2014 comes off.
First-quarter results, released on Dec. 4, showed a 2.1% rise in like-for-like revenue, resulting in a 7.6% rise in trading profit. Wolseley also reduced its net debt from 523 million pounds to just 87 million pounds. At the time, chief executive Ian Meakins said: "Cash generation is a key focus, and the strength of our balance sheet provides opportunities to invest selectively where we can generate good returns."
Compass Group, the catering services provider, will be bring us a pre-close update on Tuesday ahead of first-half results due on May 15. The past few years have been good, with steadily rising earnings and dividends, and there is a further 8% rise in both earnings and dividend forecast for this full year.
In February's update, ahead of its annual general meeting, the company told us first-quarter organic revenue was up 6%, with its American Ascension Health contract "contributing over 1% to global sales in the period." Compass added that "expectations for the full year remain positive and unchanged."
The shares, valued at 832 pence today, are on a forward P/E of 18. Whether that is too rich is for you to decide.
We'll also have a pre-close update from TUI Travel on Wednesday, again in advance of half-year results scheduled for May 15. The owner of a number of holiday brands, including Thomson and First Choice, released an upbeat first-quarter update in February, with chief executive Peter Long saying, "We are pleased to report that our strong trading momentum has continued with particularly encouraging growth in the U.K. and Nordics."
Following losses during the slump, TUI has recovered well, paying a 5% dividend last year. For the year ending September 2013, the City is forecasting a 7% rise in earnings per share and an 8% rise in the dividend. The shares, at 311 pence, are on a forward P/E of 11, falling to 10.5 on 2014 forecasts.
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The article 3 More FTSE 100 Shares for the Week Ahead originally appeared on Fool.com.Alan Oscroft has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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